Ways to Give

You can deduct cash gifts up to 60 percent of adjusted gross income. On a $10,000 cash gift in a 32 percent tax bracket, you could potentially save $3,200 in taxes. In response to the COVID-19 crisis, the percentage limitation on cash contributions for the year 2020 was lifted, allowing for a deduction of up to 100% of adjusted gross income.

You can deduct cash pledged over a period of years, up to 60 percent of adjusted gross income for the portion given each year. On a $30,000 cash gift pledged over three years ($10,000 each year) in a 32-percent bracket, you could potentially save $3,200 in taxes each year.

One of the simplest ways is to give of your estate. You can make a gift bequest, after others have been provided for, of a dollar amount, specific property, a percentage of the estate, or what is left (remainder) to the organization.

Appreciated stock that is held more than one year makes an excellent gift. You avoid all capital gain taxes, will receive a tax deduction, and can deduct it up to 30 percent of your adjusted gross income.

Gifts of goods or services are gratefully accepted by the organization with prior approval by the board of directors. Ordinarily these gifts will be credited at their full fair market values as determined by appraisal or other appropriate valuation techniques.

Retirement Account Funds (IRAs or company plans) beyond the comfortable support of yourself or loved ones may be given to the organization by proper beneficiary designation.

One of the most overlooked gift forms is an outright gift of real estate, such as land, a house, or vacation home. You will receive a tax deduction for the full fair market value, as well as avoiding all capital gain taxes

In exchange for a gift of cash, stock or securities, the organization will pay you, you and your survivor, or another person you name, a guaranteed income for life. You receive a substantial tax deduction in the year of the gift and part of the income is tax-free. Upon your death, the gift remainder supports the campaign.

A deferred gift annuity is an excellent retirement planning vehicle. It is similar to a gift annuity except that payments begin at a future date determined by you, such as retirement. Your tax deduction and annual rate of return increase the longer you wait to start payments.

You can select the rate of return from these income arrangements and also choose a fixed or fluctuating annual payment. Capital gain taxes are completely avoided and you will receive a tax deduction based on the age of the income recipient and the rate of return.

In a charitable lead trust, assets (cash or securities) are transferred to a trust that pays income from the fund to the organization for a predetermined number of years. At the end of the time period, the trust terminates and the assets are given back to your beneficiary. The income tax deduction is for payments made annually to the organization.

The revocable trust provides for gifts of cash, property, and/or income now, while retaining the rights to retrieve the property if necessary. Gifts should only be made on a permanent basis when it is in your best interest to do so. There is no tax deduction for the gift but there are savings in estate settlement costs if the trust is not revoked.

A simple way to make a significant future gift is to name the organization beneficiary to receive all, or a portion of the proceeds of an existing life insurance policy. You will receive a tax deduction for the cash surrender value, thus reducing your tax liability in the year of the gift.

You can purchase a new life insurance policy and name the organization as owner and beneficiary and receive an income tax deduction for each premium as made and provide a major gift to the organization with a modest annual payment.

Bonds and mutual funds are similar to cash in their tax treatment. State, Municipal, and U.S. Government Bonds are welcome.

Gifts of personal property such as car collections, royalty and mineral rights, etc. are always welcome. Charitable tax deductions are available in the year of the gift.

When virtual currency is given, your gift is treated as a non-cash contribution. The charitable contribution deduction is generally equal to the fair market value of the virtual currency at the time of the donation if you have held the currency for more than one year. Otherwise, the deduction is the lesser of your basis in the currency or the currency’s fair market value at the time.

Receive a substantial income tax deduction by giving (deeding) your home or farm to the organization now. You continue to live in the residence, maintain the property as usual, and even receive any income it generates. At your death, the organization will sell your property and use the proceeds to advance our mission.

With Payable on Death provisions, you retain full ownership and full control of your CD’s, saving accounts, brokerage accounts, etc. during your life. At your death, the account balance is paid to your named beneficiary immediately and without probate.